Post by account_disabled on Mar 9, 2024 22:21:15 GMT -5
Know and examine the Range graph from all sides Construction principles. Determination of main signals. Application features. Dear Friends, Today I will continue with a learning block that focuses on unusual price charts. We have already examined charts such as Renko , Linear Breakout Level , Kagi , Tic Tac Toe ( part 1 and part 2 ). New among these charts is the Range chart LiteFinance: Construction of the Range graph. Construction. Properties. Signs. | Litefinance This type of chart became available on Tradingview not long ago, on June 21, 2018. Perhaps, its only and most important feature is that the bar range does not take all time into consideration and therefore there is no time factor.
That is, this concept as a timeframe for him does not Mexico Mobile Number List exist at all. For the above chart types, the time interval was important as the price movements were measured over a set time period and each block was equal to a certain minimum value on the time scale which could not be less than a TF established, then the concept of time frame is completely excluded and a new bar emerges when the price reaches a certain value, set by the user. Obviously, it considerably reduces price noise, created by high price volatility over time, but to what extent this type of chart is really useful and how to use it, we have yet to understand. To start, I suggest understanding how it is built.
How the Range Chart is Constructed Visually it looks like a regular bar chart and has a similar structure: LiteFinance: Construction of the Range graph. Construction. Properties. Signs. | Litefinance In the graph above I marked parts of such a bar with arrows: The ends are marked with blue arrows. Open levels are marked with red arrows. The body is marked with the green arrow. Open levels are marked with yellow arrows. The main difference between the Range bar and the common ones is that the maximum of a bullish bar and the bearish minimum will always coincide with the closing level. Range bars are measured in an unusual way. The Size of a bar is not set in dollars or Bitcoins, but in Range units.